subject: Tips To Buy Medical Insurance In India [print this page] The ever increasing medical costs, in most cases, burns a hole in the pocket of the common man. Doctors consultation fees, ambulance charges, cost of medicines, the ballooning price of tests can total to an inexplicable amount. This is when one feels the need of medical insurance. In India, the total expenditure on medical insurance stands only at 6 percent of the GDP. This is much less than that in other developing countries. While the scene of medical insurance in India is improving, there is still a lot of scope of improvement. Health insurance is not a luxury, with the ever increasing medical expenses, it is fast becoming a necessity. But what are the things that one must keep in mind while buying a health insurance? Mentioned below are a few points that will help you take an informed decision about how to buy a medical insurance in India:
Note down your requirements: Know what you need a cover against from accidental injuries to critical illness and from out patient expenses to hospitalization expenses. Different policies cover you against different requirements. Hence it is essential for you to define your requirements.
Read the policy completely: It is a good idea to read the policy wording to know which illnesses are covered and which illnesses are excluded from the cover. It also gives you a fair idea about when and where to go for a cashless treatment and in which situations to go for a reimbursements. Apart from this, you will also get a fair idea about which pre existing conditions are covered and which are excluded from the policy.
Ensure that you have the complete details of the TPA: Ensure that the third party administrator associated with the health insurance has a wide enough network that if facilitates you in case of emergencies and that the hospital you visit for regular treatment is also a part of the third party administrator (TPA) hospital network.
by: Cruse Loyle
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